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Last updated: 01/14/2020 07:00:27

07:00 AM EST, 01/14/2020 (MT Newswires) -- As of near 6.55am ET, European stock markets headed south, and U.S. futures were also in the red after a mixed close in Asia, where Hang Seng and China bourses pared early gains. Markets seem to be done with pricing in the imminent signing of the Phase One trade deal and the focus is switching to the start of the U.S. earnings season. Yesterday's jump in tech stocks boosted Wall Street but U.S. futures were down -0.1 to -0.2%, signalling a levelling off in major indices. In Europe, DAX and FTSE 100 were down -0.2% with other European markets underperforming. Stock markets traded mixed across Asia, with Japanese markets supported by catch up trades after a holiday, and Topix and Nikkei closing with gains of 0.3% and 0.7%. The ASX gained 0.9%, on the prospect that the long awaited first phase of the U.S.-China trade deal will finally be signed off. In Asia, China data showed that the country's trade with the U.S. fell off the cliff last year. The Hang Seng corrected -0.2% and the CSI 300 was down -0.3% at the close. The front end WTI future, meanwhile, was trading at near US$58.39 per barrel.

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